Nisa Investment Advisors LLC Decreases Stake in Paramount Global (NASDAQ:PARA)

Nisa Investment Advisors LLC lowered its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,134 shares of the company's stock after selling 47,333 shares during the quarter. Nisa Investment Advisors LLC's holdings in Paramount Global were worth $983,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PARA. ProShare Advisors LLC lifted its stake in shares of Paramount Global by 146.5% during the 1st quarter. ProShare Advisors LLC now owns 151,864 shares of the company's stock worth $1,787,000 after acquiring an additional 90,262 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company's stock valued at $7,998,000 after buying an additional 34,541 shares during the period. Financial Counselors Inc. raised its holdings in Paramount Global by 6.9% in the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company's stock worth $8,980,000 after purchasing an additional 56,021 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Paramount Global by 33.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company's stock worth $4,790,000 after purchasing an additional 103,103 shares during the period. Finally, Hoertkorn Richard Charles increased its stake in Paramount Global by 38.1% during the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company's stock worth $2,354,000 after buying an additional 61,191 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Trading Down 1.0 %

PARA traded down $0.11 during trading on Monday, hitting $10.87. The company's stock had a trading volume of 4,798,734 shares, compared to its average volume of 14,981,095. The firm's 50 day moving average price is $10.47 and its 200-day moving average price is $11.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market cap of $7.25 billion, a PE ratio of -1.40, a PEG ratio of 1.64 and a beta of 1.74. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, analysts expect that Paramount Global will post 1.61 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. Paramount Global's dividend payout ratio (DPR) is -2.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PARA shares. Evercore ISI cut their price target on Paramount Global from $13.00 to $11.50 and set an "in-line" rating for the company in a report on Tuesday, July 9th. Benchmark restated a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a research report on Thursday, August 15th. StockNews.com lowered Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised Paramount Global from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.33.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.